Business news

Wealth Tax Abolished; Super Rich Taxed 2%

Jaitley said the government's goal is to have "minimum government and maximum governance" with the focus on ease of doing business and simplifying tax procedures.

Feb 28, 2015

Atal Innovation Mission: ₹150 crore for Research and Innovation

Named after former prime minister Atal Bihari Vajpayee, AIM will be an innovation promotion platform involving academics, entrepreneurs and researchers.

Feb 28, 2015

Five Mega Power Projects of 4,000 MWs each to be Set up

The step has been planned with the aim of electrification of the remaining 20,000 villages in the country by 2020.

Feb 28, 2015

India Budget 2015: Gold Monetisation Scheme in the Works

Finance Minister Arun Jaitley proposed ways to turn 20,000 tonnes of unproductive gold owned by Indian households into cash.

Feb 28, 2015

Tax Deductible Investments Hiked to ₹4.4 lakh

Jaitley said the government is proposing to rationalise various tax exemptions and incentives to reduce tax disputes and improve tax administration.

Feb 28, 2015

Union Budget 2015: Black Money Law Violation to Attract Rigorous Imprisonment of up to 10 Yrs

The FM introduced the initiatives of the Prime Minister Narendra Modi government in tackling the menace of black money.

Feb 28, 2015

Union Budget 2015: Excise Duty on Cigarettes go up, Tobacco Company Stocks Slip

The FM increased excise duties on cigarettes, which saw industry stocks slip.

Feb 28, 2015

Budget 2015: Finance Minister Disappoints Bollywood

Members of film industry were hoping that Finance Minister Arun Jaitley would include entertainment industry in the Union Budget 2015, but the budget failed to please them.

Feb 28, 2015

India Slashes Corporate Tax Rate by 5% as Jaitley Envisions Imminent Double-digit Growth

Finance Minister Arun Jaitley announced that the country's corporate tax rate will be cut to 25% from 30% over four years.

Feb 28, 2015

Jaitley Allocates ₹2.46 Lakh Crore for Defence Sector

The government will spend 2.46 trillion rupees ($40 billion) in the defence sector in 2015/16.

Feb 28, 2015

Finance Minister Arun Jaitley and Minister of State for Finance, Jayant Sinha along with the team at North Block before going to Parliament to present the Union Budget in New Delhi on Feb. 28, 2015.

Union Budget 2015 Receives Mixed Reactions

While the members of the parliament lauded some of the proposals, others were met with criticism.

Feb 28, 2015

Union Budget 2015: Boost to Infrastructure as Jaitley Announces ₹70,000 Cr Investment

The FM decided to go for growth and to slow down the rate of fiscal consolidation.

Feb 28, 2015

Research Institues to be Set up in Nagaland, Odisha

The finance minister also proposed to set up three national institutions of pharmaceutical education and research in Maharashtra, Rajasthan and Chhattisgarh.

Feb 28, 2015